"While average property values have fluctuated month by month between $265,000 and $275,000 since 2009, it showed there has been no real growth in property values since the 2006/07 peak," he said.
Monthly comparisons year by year have showed property values were showing only small changes.
"But at the same time there have been no drastic decreases," he said.
"If you level out the monthly fluctuations you will see no real consistent growth for average property values in Rotorua."
Mr Oppers said average property values, rather than median value, gave a better indication of what the market was doing.
"We have been experiencing a dip in property prices since they went through the roof in the 2006/07 peak.
"There has been a dip and the values are slowly recovering."
The figures show property values in provincial centres are variable, and while many are decreasing or flat, values are rising in a number of districts such as Kaipara and Matamata-Piako in the North Island, and Kaikoura, Clutha and Central Otago in the South Island.
Nationwide values jumped 7.6 per cent over the past 12 months to an average current value of $479,193, and are up 15.6 per cent on the 2007 market peak.
The nationwide annual increase dropped slightly when adjusted for inflation to 5.9 per cent, and values remained below the 2007 peak by 0.9 per cent.
QV national spokeswoman Andrea Rush said sales volumes were between 15 per cent and 25 per cent lower than this time in 2012 and 2013 in most places around the country.
"This slowdown is most likely due to the LVR speed limits and interest rate rises as well as the annual winter seasonal downturn.
"However, the Reserve Bank has now said it will take a break in rate rises for the moment and banks are advertising that they will negotiate on lending to those with deposits of less than 20 per cent."
Values had increased in most of the main centres.
In Auckland, values rose 11.7 per cent year on year, Hamilton values rose 3.9 per cent, and Christchurch and Dunedin values were up 6.5 per cent and and 2.2 per cent respectively.
Rotorua values:
• Average current value is $270,592
• 12 month change per cent is -1.0 per cent
• 3 month change per cent is -1.6 per cent
